Retailers should reduce profit margin on pulses, Consumer Secretary said - strict action will be taken against profiteering
Pulses: The government has warned of strict action against sellers who speculate and profiteer in pulses. Consumer Affairs Department Secretary Nidhi Khare said, prices of gram, tur, and urad have fallen by up to four percent in major wholesale markets, but no such decline has been seen in retail prices.
It has asked retailers to trim profit margins on pulses, a move aimed at bringing relief to consumers amid the high prices of these commodities. The government said that though prices of pulses at major wholesale markets have fallen by about four percent in the last one month, the same has not been reflected in retail markets. In such a situation, retailers should charge reasonable profit margins.
It has also warned of strict action against sellers who indulge in speculation and profiteering of pulses. After a meeting on the price scenario of pulses with the Retailers Association of India on Tuesday, Consumer Affairs Department Secretary Nidhi Khare said, "Prices of chana, tur, and urad have declined by up to four percent in major wholesale markets, but no such decline has been seen in retail prices. This suggests that retailers are getting higher profit margins." Compliance with stock limits for tur and gram was also reviewed in the meeting.
He said that multiple steps have been taken to enhance the production of tur and urad in pulse-producing states. The meeting was also attended by representatives from RAI, Reliance Retail, D-Mart, Tata Stores, Spencer, RSPG, and Vmart.
